Insurance cancelled

[MEATSWORD]

Just switched insurance companies too.
Got a quote to add my new driver(kid) 200ish per month....... go to add them and it went to 1600 per month
And just like that we took our business elsewhere .

 

[WILDDUX]

Be glad that you’re not in California, people are getting dropped left and right and getting harder and harder to find an insurance company to write new policies. I have auto with SF with 45 vehicles on it not an issue there but many are not doing new policies. Homeowners is worse, I just bought a Vacation home in South Lake Tahoe, Farmers dropped the homeowners policy 2 weeks after I closed. Quite a few insurance companies are pulling out of CA.

 

[TedRex]

Little old ladies aren't driving these trucks to church on Sunday.

I'm just going to place this here! Lol and yes she paddle shifts the TRX too!

 

[Spottswoode]

Better than getting a random letter saying they are canceling you for racing… I had 400 miles on my redeye charger and never even got on it at all and they cancelled me. Never had an issue with the 924hp hc charger, the 771hp redeye charger, 480hp Lexus RCF ect that I actually did race. Blew my mind View attachment 110833

Okay so how did they know you were racing? Did you sign up for that thing where they monitor your driving data through the app?

 

[Pivot]

I'm just going to place this here! Lol and yes she paddle shifts the TRX too!

Well played, Sir. Off to church she goes.

 

[Mmack911]

I bid out my insurance requirements annually. I have a TRX, a MaseratI and two homes each worth something like $1.6k

Believe it or not, even me having both high coverages and high deductibles of $1k to help the pain of premiums.

AAA beats them all if you can believe that, I sure didn’t expect that the first time I added them to my bid list.

How do you do that? A broker?

 

[Pivot]

Literally just received an email from my agent alerting me to potential 30% discount.

State Farms drive safe and safe program. Big brother will monitor your driving and decide if you are worthy of discounts.

Whose signing up?

Hard pass for me.

 

[jashearer]

Literally just received an email from my agent alerting me to potential 30% discount.

State Farms drive safe and safe program. Big brother will monitor your driving and decide if you are worthy of discounts.

Whose signing up?

Hard pass for me.

My fear is that they will raise the rates on everyone who doesn't sign up to pay for the discounts they are giving those that do sign up for the nanny to watch the driving

Effectively they will force you into using it through premium changes... or switching carriers and hoping some carriers hold out.

Jay

 

[jashearer]

Be glad that you’re not in California, people are getting dropped left and right and getting harder and harder to find an insurance company to write new policies. I have auto with SF with 45 vehicles on it not an issue there but many are not doing new policies. Homeowners is worse, I just bought a Vacation home in South Lake Tahoe, Farmers dropped the homeowners policy 2 weeks after I closed. Quite a few insurance companies are pulling out of CA.

California is an interesting one... I was listing to one of my WSJ podcasts and they were talking about the state putting limits on how fast insurers can raise rates to cover extrodinary losses... if insurance can work efficiently then insurers would rather leave then have to pass on the California law imposed losses onto other states who don't have the same rules...

The market is reacting exactly how it should...

Jay